Research by Virgin Media Business showed Welsh organisations measure technology by how it can improve their company.

Despite them struggling in this age of austerity, the economic climate isn't holding firms back from realising the true benefits of investing in it.

In the study, business leaders said that they placed more value on how technology helped them become trailblazers within their industry, rather than the immediate cost savings it can enable.

Its study of 500 companies in Wales employing up to 250 people showed businesses realised that investing in technology could help them weather the financial storm.

The results added:

23% said it allowed them to operate more efficiently

22% said it allowed them to access new markets at home or abroad

17% said it enabled them to cut costs

Paul Lawrence, Head of Business Markets, Wales, Virgin Media Business, told Business Post: “Rather than looking at how it can help save them money, these business leaders are instead focusing on how technology can help them get ahead of the competition. The recent study showed that 20% of businesses felt savvy IT investment had enabled them to become more responsive.”

He added: “Whilst it would be easy for businesses in austere times to focus only on making savings, companies across Wales should be congratulated for their desire to continue trailblazing.”